Heritage Virtual Bourse?

Russ · February 21, 2007 10:20AM

Is this new, or did I just miss it somehow?

Russ, NCNE

BECOKA · February 21, 2007 10:21AM

Think you just missed it. I noticed it a couple of months ago.

Edited, unless you mean the Kennedy.

cape · February 21, 2007 10:22AM

its relatively new, i notice lots of brandons coins on there.

Russ · February 21, 2007 10:22AM

It's probably the first time there's been a listing for a Kennedy, which is why I missed it.

<< its relatively new, i notice lots of brandons coins on there. >>

Yeah, the Kennedy I linked is one of his.

Russ, NCNE

poorguy · February 21, 2007 10:24AM

Hey, Heritage stole my coins.

Nah, I list our coins on Heritage via their virtual bourse "project". I say project because there are still some buggy issues but they are being worked out. One thing I hope they will fix, and I've asked them, is to make a sliding scale of fees instead of 10% across the board.

Animalkeeper · February 21, 2007 10:28AM

It's been around for several months now and I hate it.

Whenever you look for just the new items, the virtual bourse items are always included. Grrrr....

I'm on there several times a day and I don't want to see those!

poorguy · February 21, 2007 10:29AM

<< It's been around for several months now and I hate it.

Whenever you look for just the new items, the virtual bourse items are always included. Grrrr....

I'm on there several times a day and I don't want to see those!

>>

There may be a way to filter them out of your search results. If not, then call Heritage and ask to speak to the person in charge of Virtual Bourse and tell them you would like to see this feature implimented.

Shamika · February 21, 2007 10:42AM

Many of the Virtual Boarse coins seem overpriced.

poorguy · February 21, 2007 10:43AM

<< Many of the Virtual Boarse coins seem overpriced. >>

Remember, I said 10% markup across the board. Have to adjust prices when fees are that high.

WaterSport · February 21, 2007 10:48AM

Has anyone had success making an offer to Heritage for a coin that was listed for auction and not from their "Bourse"?

Ws

roadrunner · February 21, 2007 1:00PM

I am 1 for 1 on making Heritage an offer on a 2nd chance auction coin. I had seen the coin in hand at one point and offered what I figured they'd take for it. As a rule I would be skeptical of coins that failed to meet reserve....and then are offered at that level or higher.

roadrunner

DennisH · February 21, 2007 1:09PM

Many of the Virtual Bourse coins seem overpriced. (corrected for spelling)

In the case of the stuff I've been looking at (Morgan VAMs) that's a huge understatement. In fact, some of them are so high it makes Heritage look bad just by having them on their site.

StampAlarm · February 21, 2007 1:11PM

<< Has anyone had success making an offer to Heritage for a coin that was listed for auction and not from their "Bourse"?

Ws >>

No. I've tried, but I always get the next msg that says my offer is too low.

Jerry

RegistryCoin · February 21, 2007 1:28PM

<< As a rule I would be skeptical of coins that failed to meet reserve....and then are offered at that level or higher. >>

This probably makes tremendous sense since you've had, in all likelyhood, many of the saavy, experienced buyers already determine that the coin wasn't worth the reserve.
Also, I wonder if DLRC's auction guarantee, where they will buy any coin consigned to their auction at the reserve if it is not met, will have any effect on the way other auctions are conducted.

prenum · February 21, 2007 1:34PM

All the prices I've seen are ridiculously high. Maybe they should call it 'take a shot bourse'.

As for guaranteed prices, I'll buy all your coins if I can name the price. Is that a guarantee?

RegistryCoin · February 21, 2007 2:49PM

I believe it is true that in the virtual bourse, the seller basically sets a price, whereas auction reserves are somewhat negotiated between consignor and auction house, where total consignment value, buybacks and percentages play into setting reserves. I wouldn't think the auction house, alone, determines a reserve, unless, of course, the lot came from their own inventory.

RegistryCoin · March 29, 2007 5:31PM

<< Whenever you look for just the new items, the virtual bourse items are always included. Grrrr.... >>

I, and probably a few others, asked Heritage to stop this practice, or give us a way to filter out the virtual bourse items, and they now have stopped the practice.
Heritage: Thanks for listening to the problem, and correcting it !!

MrBeast · March 29, 2007 5:53PM

I just had an odd experience with the so-called bourse. I found a nice, tough date ST Gaudens with the "Make An Offer" label attached. I promptly offered the lowest figure in their suggested range (approx $850 below FMV). To my great shock & delight, I got an email the next day saying my offer had been accepted & to click on the provided link to purchase said coin. Only problem was that the link didn't work & approx 36 hours later all references to the coin having even existed vanished! After complaining, I am now awaiting the results of their "investigation."

RegistryCoin · March 29, 2007 6:36PM

This happened to me once. Evidently the coin was ready to go out to a show/auction, and my offer didn't make it to a real person in time to be held from the shipment to the show, and the coin was never seen on their site again, nor traceable "after the fact".

Animalkeeper · March 30, 2007 8:58AM

I "lost" a coin I had been approved to purchase once also. I got an email explaining that it had been inadvertently taken to an upcoming auction. I was asked if I wanted them to retrieve the coin and I said yes. Three days later the coin was in my mailbox. I like those folks.

Coxe · March 30, 2007 9:02AM

<< Many of the Virtual Bourse coins seem overpriced. (corrected for spelling)

In the case of the stuff I've been looking at (Morgan VAMs) that's a huge understatement. In fact, some of them are so high it makes Heritage look bad just by having them on their site. >>

poorguy · March 30, 2007 9:40AM

<< 

<< Many of the Virtual Bourse coins seem overpriced. (corrected for spelling)

In the case of the stuff I've been looking at (Morgan VAMs) that's a huge understatement. In fact, some of them are so high it makes Heritage look bad just by having them on their site. >>

>>

Keep in mind that Heritage is charging 10% of the sale price to list there and that dealers are adjusting their asking prices to take this into consideration.

coindeuce · March 30, 2007 10:07AM

Heritage not only charges the owner of the "virtual bourse" listing a 10% sellers fee, they also require that they act as an escrow agent. In other words, upon the sale of a coin listed in the virtual bourse, the owner must ship the coin to Heritage for them to forward to the buyer. They collect the payment directly from the buyer, and forward the payment only after taking their cut. In simple terms, the seller does not have a direct venue. Also, Heritage requires sellers to purchase a laser scanner and software that works only for the purpose of verifying coins offered in PCGS holders. And Heritage will not accept coins not holdered by PCGS, NGC, ANACS or NCS. Such a deal.

RegistryCoin · March 30, 2007 10:17AM

<< I, and probably a few others, asked Heritage to stop this practice, or give us a way to filter out the virtual bourse items, and they now have stopped the practice. >>

Perhaps I spoke too soon. Now when I pull up "new purchases" I get the old bourse stuff too. Oh well. (I take back my thanks, and the little "applause" smiley guy.)

Heritage Virtual Bourse?

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